Property Description:

Fully Leased 24-Unit

APARTMENT BUILDING

with Future Upside!

Current Gross Leases: Approx $206K

Approx NOI: $144K + Future Upside

Asking $1.7 Million – 8%+ Cap Rate

Exclusive Listing- CASH STREAM Apartment Building offered at an excellent cap rate with future upside! Fantastic opportunity to own and collect rental income on fully leased residential building at desirable BEACH BLOCK location w/convenient access to everything. Ideally situated  between landmark tourist destinations an approved multi-million dollar re-gentrification project,  this apartment complex offers 24 units, inclusive of 2-Bedroom, 1-Bedroom & Studio apartments – super easy to rent! This free standing income producing property is clean, near Beach & Boardwalk, & fully leased. Seller invested approx $200K in renovations in 1/2 building, and there is plenty of upside to go. If you’re an experienced investor in today’s market, you know you won’t find a better deal – Investment Properties like this one simply don’t exist, nor will they last.

Please be advised that this is a private listing exclusively being offered for consideration to our client database only. For more details on this acquisition opportunity and to submit an offer, please call us directly right now at (609) 412-5547 or email me your complete contact information and the best time to reach you.

Serious financially pre-qualified buyers only & signed NDA required. Property is fully occupied, so site visit will be scheduled only following an accepted offer. (Perfect as 1031 Exchange. Cash buyers offering quick closing preferred.)